Do you know your personal cash flow

[kst$]

Where is all your money going. Personal Cash flow is how much you have coming in and how much is going out. Below you will find a way to start tracking your cash flow.

To calculate your personal cash flow, start by selecting a period for measuring your inflows and outflows. A month is the most common period used. Most of us pay major bills monthly. Almost all of us either get paid monthly, every two weeks, twice a month, or weekly. If you get paid more frequently than monthly, you can multiply by 2 (if paid either twice a month or every two weeks), or by 4 (if paid weekly), to approximate your cash inflows from a job on a monthly basis.

Next, add up your monthly cash inflows. Be sure to add other income that you receive in cash. Include only those cash inflows that are received on a regular basis. If you do not earn the income consistently, leave it out. Lottery winnings should be excluded, for example. Tax refunds should also be left off the worksheet.

Next, calculate your cash outflows on a monthly basis. Add up your bills that you pay on a regular basis. (The example assumes that you pay your bills once a month.) At a minimum, your monthly bills include mortgage or rent payment, utilities, fuel and transportation expenses, and food. If you make other loan or credit card payments, add those to the outflows too.

Following your cash flow

by Aol money and finace

We have showed all of our kids how to do this to manage there money better and to be able to grow a saving for there selves and there future.

[moneysense]

I know where every penny goes, and on the other hand, I know that we are like many other americans, too little coming in and too much going out.

We can save a little to put back for emergencies, but we can never save enough.

The only bills we have are the necessities. Housing, electricity, cable, water, etc. And still it gets hard at times to make it in todays economy.

[dollardaze]

It seems to take at least 2 incomes to make it with today's high prices in everything from utilities and groceries to healthcare. My husband and I seem to keep taking on extra work just to make ends meet when we should be able to save. I keep hoping that the government will come up with a plan to not only put a cap on some things like the cost of gasoline, but roll those prices back so that we can afford more than just to exist. I guess I should be happy that we can afford to put food on the table and a roof over our heads, but this is certainly not the American dream we are living.

[rachael24]

Great post dollar...I hafta agree that this is NOT the dream most people think of when they think of America. I really doubt a plan like this will be around anytime soon, but I sure hope they prove me wrong.